Donegal Group (NASDAQ:DGICB) Shares Gap Down – What’s Next?

Shares of Donegal Group, Inc. (NASDAQ:DGICB) gapped down prior to trading on Wednesday . The stock had previously closed at $19.22, but opened at $17.26. Donegal Group shares last traded at $19.4230, with a volume of 132 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Donegal Group in a report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Donegal Group Stock Up 2.1%

The company has a market capitalization of $685.67 million, a price-to-earnings ratio of 10.96 and a beta of 0.06. The firm’s 50 day moving average price is $17.21 and its two-hundred day moving average price is $16.65. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05.

Donegal Group (NASDAQ:DGICB) last released its quarterly earnings data on Thursday, April 30th. The insurance provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.15). The firm had revenue of $236.00 million for the quarter, compared to analyst estimates of $247.83 million. Donegal Group had a return on equity of 10.41% and a net margin of 6.77%.

Donegal Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be paid a $0.175 dividend. This is an increase from Donegal Group’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, May 1st. This represents a $0.70 dividend on an annualized basis and a yield of 3.8%. Donegal Group’s dividend payout ratio (DPR) is currently 41.42%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Donegal Group stock. Raymond James Financial Inc. purchased a new stake in Donegal Group, Inc. (NASDAQ:DGICB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,231 shares of the insurance provider’s stock, valued at approximately $93,000. 1.19% of the stock is owned by institutional investors.

Donegal Group Company Profile

Donegal Group Inc, an insurance holding company, provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles.